The Texas Veterans Land Board (VLB) Veterans Housing Assistance Program offers qualified Texas Veterans and Active Military Members living in or moving to Texas an unbeatable, low-interest loan with little or no money down on primary residences in Texas.
The Texas Veterans Land Board (TVLB) was created by the states Legislature in 1946. Then in 1983 the (TVLB) started doing home loans for those who plan to use the home for their Primary Residence.
These mortgages are available to Honorable discharged Veterans who served in the Marines, Army, Air Force, Navy, Coast Guard or the National Guard.
The Maximun home Loan Limit is $417,00.
Housing loans are available with 30, 25, 20 or 15 year terms. Home Improvement loans are available with 2 to 20-year terms.
A VLB Home Loan may be used to purchase a home that meets these requirements:
There are a number of benefits for Veterans with disability ratings from VA from
the Veterans Affairs, Texas Veterans Land Board and the State of Texas.
Veterans purchasing or refinancing with with a VA loan that are guaranteed by the U.S. Department of Veterans Affairs that are 10% or greater service connected disability rating are exempt from the VA funding fee. Learn more information about the VA Funding Fee here.
The Texas VLB offers Disabled Veterans an interest rate reduction on their VLB Home or Home Improvement Loans.
The veteran must have a compensable service-connected disability of 30 percent (30%) or greater as verified by an Award Letter from the Department of Veterans Affairs (VA).
The reduction is 1/2 of 1 percent (50 basis points) on the available VLB loan interest rate.
A disabled veteran in Texas may receive a property tax exemption of up to $12,000 on their primary residence, depending on the disability rating. A full property tax exemption is available for veterans who are 100 percent disabled as a result of service.
Not allowed, these loans are only for purchasing.
To be eligible for VLB Home Loan financing, new-construction homes must meet the federal government standards for energy efficiency in the Energy Star program or have a HERS index score of 75 or less.
The veteran must occupy the home within 60 days after the closing of the loan, and the home must remain the veteran's primary residence for at least three years.
We are located in San Antonio, Texas and are Licensed Mortgage Broker and a VA Approved lender and have been specializing in VA Loans throughout Texas since 2002.
We can help you accomplish your home purchase or home refinance with expert service, fast closing and very low fees.
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We are located in San Antonio, Texas and are Licensed Mortgage Broker and a VA Approved lender and proudly boasts an A+ rating from the Better Business Bureau.